AT least one company has welcomed the memorandum of understanding (MOU) signed between Jamaica and the Republic of Trinidad and Tobago to strengthen trade ties.

Jillan Aimable, owner of Shoeaholics, a regional foot wear company registered in both Trinidad and Jamaica, said, “It’s been a huge boost to see this MOU materialise between the governments of Jamaica and the Republic of Trinidad and Tobago.”

She said this conversation has been in the pipeline since 2016.

“The free movement of labour is an attractive proposition; removing tariffs where necessary is a major bonus. The announcement of a clear reporting system to encourage transparent processes that takes into account the commercial experiences of business owners is also very encouraging. I know that there’s been talk under the MOU of setting up ‘sensitisation workshops’ for businesses to bring awareness about these benefits which we’re also looking forward to. Anything that builds on the current Caricom Single Market and Economy arrangement is a welcomed bilateral investment,” Aimable noted.

She admitted that the current business environment is difficult but signalled that the bilateral agreements provides hope for struggling businesses in the region.

“In this current global commercial climate that is ever-changing because of the coronavirus pandemic, it has been a challenge to chart a goal-focused way forward while recognising the reality on the ground that are influenced by a number of variables — including the supply chain issues that have impacted movement of product.”

“Nevertheless, we’re looking to grow our revenue by 10 per cent. That’s on the subject of our financial revenue — but there’s also the exciting opportunity that presents itself here as it relates to what I like to call the ‘cultural economy’. Expanding our workforce in Jamaica, honouring our tax responsibilities, getting a better understanding of retail patterns in our target markets are some of the intangible values that can’t be quantified but are still an asset to a company such as ours. It’s a trickle-down, social exchange effect that we’re excited to immerse ourselves into,” she continued.

With that said, the entrepreneur is looking to expand even more.

“Now that our first store is fully operational, we’re really excited to seek new store opportunities — the commercial real estate experience that we’ve had with Mr Champagnie and Sovereign Centre has been nothing short of welcoming and have shown our team so much support as we anchored ourselves here in Kingston. It’s been an encouraging partnership, and more store openings are definitely on our vision board in the next few years,” Aimable disclosed.

But she said there are some lingering challenges which must be resolved.

“Dynamic problems will require dynamic solutions, and one of the pervasive challenges we’ve experienced in this venture involves the shipping of product. It can be cost-prohibitive, and because our suppliers ship to Trinidad and then to Jamaica, it means that it’s double the clearing and double the expenses,” she lamented.

“Shoeaholics prides itself making fashion affordable for the modern Caribbean woman, so keeping the cost down for our customer is always a top priority. It would be great to expand the allowances for easy movement within the region. I think it’s important to put systems and practices in place that make Caribbean business ecosystem sustainable, particularly as we are emerging from a crippling pandemic period that has adversely affected everyone — both the company and the customer,” she recommended.

In the meantime, Aimable has announced plans to take advantage of the equity markets in the region once the time is right.

“Right now, our focus is to ensure regional brand equity in Jamaica and Trinidad and Tobago. Once we’re able to enrich the communities that we serve, that in turn builds the foundation for future opportunities that we can explore.”